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, the cut back in department of defense outlays, is likely to fuel concerns about the size of a slow down and the full economic fallout of the large quote unquote sequester cuts scheduled for a month from now, the start of march. the president's press secretary said this about the sequester. quote, across-the-board cuts to education, to research and development, would have repeat, would have, damaging effects on our economy and our long-term economic prospects. unquote. a growing number of analysts believe the political will to stop the sequester is lacking. it will take effect, at least temporarily, they believe, and that will pose a further the f of this year. question. the fed is saying that the fourth quarter contraction october, november, december of 2012 was due chiefly to quote unquote transitory factors. is this true? or is the recovery stalling out pat buchanan? >> i think basically it is true, john. the u.s. economy is out of the intensive care it was in, in 2007-2008 but it has been walking the hospital halls ever since. the growth has been growing at an average of about 2%, u
on the economy. >> reporter: last quarter, defense spending fell off the fiscal cliff. as lawmakers bickered, manufacturers who make things for the pentagon cut back production sharply-- defense spending fell 22% in the latest g.d.p. report, tipping the economy into the red. >> certainly manufacturers are pulling back and i think this is a bit of a wake up call that these cuts are real and that they have real effects on the economy. >> reporter: economists and markets did not panic over the drop into the red, because the economy is still showing signs of solid growth. businesses are still buying equipment and software. housing continues to bounce back. and consumer spending held up well, expanding at an annual rate of 2.2%. >> so if you look through some of the volatile components, demand underneath was solid and it doesn't suggest the economy is losing momentum. so a scary headline number isn't as bad as it seems when you look underneath. >> reporter: and that's what economists say federal reserve policy makers did. after studying the economy for two days, chairman ben bernanke and his coll
for the asian american legal defense and education fund. and aarti kohli, research fellow at uc berkeley. aarti, we're going to begin with you because these are all proposals right now. really any overhaul to our immigration system is going to have a big repercussion here in california. can you tell us what that would be? >> of course. we're the state with the largest number of immigrants. we have 2.5 million undocumented immigrants and we've got a third of our registered voters are lawful immigrants. so any way you cut it, it's going to have a huge impact. some of the -- and there's a lot in here for everyone. employers, students who came here at a young age. they're called dreamers. agricultural workers. some of the things that people may not be aware of, in the president's proposal, lgbt families will be able to sponsor their family members. >> and that's from the president's proposal but not in the so-called gang of eight. >> it's not in the gang of eight proposal. but i think one of other issues for californians to, in terms of watching this debate and participating in it, is to understand
, particularly when women are going into combat. we have a new secretary of state. we have a new defense secretary. i am bothered by the fact that the media continues to get in not asking who are leaders the tough questions. nothing about guantanamo, nothing about these drones company sos -- these drones, so 60 minutes as a softball conversation, but the media plays these clips over and over again, and it is basically a love says. it is a great sendoff for hillary clinton. if i am sitting with them today, there are some questions that need to be asked that the media does not ask. that is a long way to get your point of why the media, why we will not ask the tough questions when we get the opportunity. >> if the white house ever granted me an interview with president obama, and it would be an interesting interview. i would ask all the questions i would love to ask, which i will not get. tavis: you or i for that matter. >> this is an intentional white house strategy. eight is throughout the campaign. how many interviews did cnn get with president obama? zero. how many did the people who re
, these high priced legal defense firms that represent the banks. and then they go back to government again. and it's this sort of, this coterie of, you know, 100, 200 lawyers who really run this entire thing. and it's all the same people on both sides. >> lanny breuer was one of them. he was in a very prestigious washington law firm. jack lew, the new incoming secretary of the treasury, if he gets approved, served three years at citigroup. his record there, according to "the wall street journal" was not very lustrous for a man who's about to take over the treasury department. but "the wall street journal" suggests that he got his job, not because he had the experience, but because he was a crony of robert rubin. >> jack lew served in the clinton administration. i think he worked in the omb in the, you know, office of management of the budget. and he was one of the key players in helping pass the repeal of glass-steagall. and, you know, this is kind of the way it works. it's not a one to one, you know, obvious connection. but, you know, glass-steagall was repealed specifically to legalize t
rule for women. >> defense secretary leon panetta, joined by the chairman of the joint chiefs of staff, general martin dempsey, announced this week an end to the 1-year 1994 prohibition that excludes military women from military combat. in so doing, the u.s. joins other western countries, germany, italy, canada, denmark, finland, norway, sweden, serbia, switzerland, israel, even new zealand, already allow women in combat roles and frontline positions. out of the more than 6,400 total americans killed in iraq and afghanistan, at least 130 american women have been killed in the line of fire. and the number of american women wounded is over 800. soon, women will be able to fight back on the front lines and in elite special forces, but women will have to meet the same strength standards as men if they choose a combat role. senator john mccain, vietnam war hero, and tortured as a prisoner of war, favors the women in combat role. but adds this. "it is critical that we maintain the same high standards that have made the american military the most feared and admired fighting force in the world
to create new jobs. >> susie: an intense day on capitol hill for defense secretary nominee chuck hagel. the former republican senator from nebraska took a grilling at his confirmation hearing. lawmakers from both sides of the aisle questioned him about his controversial views on gay rights, sanctions for iran, and former president george w. bush's policies in iraq. but in spite of the turmoil, hagel is expected to get confirmed by a narrow margin. >> tom: an update on failed futures brokerage firm peregrine financial, its founder, russell wassendorf senior was sentenced to 50 years behind bars. he' received the maximum sentence after admitting to engaging in fraudulent activity and misleading regulators for almost two decades. wassendorf also was ordered to pay $215 million, the amount prosecutors say he cost clients. the 64-year-old said he is "very sorry." >> tom: a couple of media giants today highlighted the challenges of an industry under-going great changes. business at viacom slowed down at the end of last year. advertising at the company's cable t.v. networks like nickelodeon,
Search Results 0 to 9 of about 10 (some duplicates have been removed)